Historical Price Inflation for Owners' equivalent rent of residences

Prices for Owners' Equivalent Rent Of Residences, 1997-2018 ($20)

According to the U.S. Bureau of Labor Statistics, prices for owners' equivalent rent of residences were
71.01% higher
in 2018 versus 1997.

Between 1997 and 2018:Owners' equivalent rent of residences experienced an average inflation rate of 2.59% per year.
This rate of change indicates significant inflation.
In other words, owners' equivalent rent of residences costing $20 in the year 1997 would cost $34.20 in 2018 for an equivalent purchase.
Compared to the overall inflation rate of 2.10% during this same period, inflation for owners' equivalent rent of residences was
similar.

In the year 1997: Pricing changed by 2.89%,
above the average yearly
change for owners' equivalent rent of residences during the 1997-2018 time period.
Compared to inflation for all items in 1997 (2.33%), price inflation for owners' equivalent rent of residences was
higher.

Price Inflation for Owners' equivalent rent of residences since 1982

Consumer Price Index, U.S. Bureau of Labor Statistics

Years with the largest changes in pricing:
1986 (5.50%),
1985 (5.46%),
and 1990 (5.39%).

How to calculate the inflation rate for owners' equivalent rent of residences, 1997-2018

Start with the inflation rate formula:

CPI in 2018 / CPI in 1997* 1997 USD value = 2018 USD value

Then plug in historical CPI values from above. The CPI for Owners' equivalent rent of residences was 181.892 in the year 1997 and 311.054 in 2018:

311.054 / 181.892* $20 = $34.20

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 1997 has the same "purchasing power" as $34.20 in 2018 (in the category of Owners' equivalent rent of residences).

Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Owners' equivalent rent of residences in 1982. In addition to owners' equivalent rent of residences, the index produces monthly data on changes in prices paid by urban consumers for a variety of other goods and services.